Analog Devices, Inc. (NASDAQ:ADI) has been given an average recommendation of “Buy” by the twenty-seven ratings firms that are currently covering the company. Seven equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $83.50.
ADI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Analog Devices from a “sell” rating to a “hold” rating in a research report on Tuesday, February 7th. Royal Bank of Canada raised their price target on shares of Analog Devices from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. KeyCorp raised their price target on shares of Analog Devices from $77.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 23rd. Vetr raised shares of Analog Devices from a “hold” rating to a “strong-buy” rating and set a $85.00 price target for the company in a research report on Wednesday, January 11th. Finally, Deutsche Bank AG raised their price target on shares of Analog Devices from $65.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, November 23rd.
Analog Devices (NASDAQ:ADI) opened at 82.90 on Thursday. Analog Devices has a 12-month low of $52.17 and a 12-month high of $84.24. The stock has a market cap of $25.63 billion, a P/E ratio of 28.27 and a beta of 1.19. The stock has a 50 day moving average of $80.41 and a 200 day moving average of $70.80.
Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 15th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.20. The firm earned $984 million during the quarter, compared to analyst estimates of $871.58 million. Analog Devices had a net margin of 25.18% and a return on equity of 19.31%. Analog Devices’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. On average, equities research analysts anticipate that Analog Devices will post $3.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Investors of record on Friday, February 24th were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. This is a boost from Analog Devices’s previous quarterly dividend of $0.42. Analog Devices’s dividend payout ratio (DPR) is currently 60.87%.
In other Analog Devices news, insider Rick D. Hess sold 6,000 shares of Analog Devices stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $82.45, for a total transaction of $494,700.00. Following the sale, the insider now owns 29,085 shares of the company’s stock, valued at approximately $2,398,058.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bruce R. Evans bought 25,000 shares of the stock in a transaction on Friday, March 17th. The shares were acquired at an average cost of $83.12 per share, for a total transaction of $2,078,000.00. Following the purchase, the director now owns 53,540 shares in the company, valued at $4,450,244.80. The disclosure for this purchase can be found here. Insiders sold a total of 117,010 shares of company stock worth $9,502,046 in the last three months. 1.10% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Analog Devices by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 117,591 shares of the company’s stock valued at $6,660,000 after buying an additional 2,149 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Analog Devices during the second quarter valued at about $338,000. Mason Street Advisors LLC acquired a new stake in shares of Analog Devices during the second quarter valued at about $2,345,000. Kentucky Retirement Systems acquired a new stake in shares of Analog Devices during the second quarter valued at about $1,480,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Analog Devices during the second quarter valued at about $703,000. 90.38% of the stock is currently owned by institutional investors.
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About Analog Devices
Analog Devices, Inc (Analog Devices) designs, manufactures and markets a portfolio of solutions that leverage high-performance analog, mixed-signal and digital signal processing technology, including integrated circuits (ICs), algorithms, software and subsystems. Its products include Analog Products, Converters, Amplifiers/Radio Frequency, Other Analog, Power Management and Reference, and Digital Signal Processing Products.
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